Cyprus inflation is home-grown, figures show

Figures on consumer prices by economic origin show that the increase in prices is coming from local producers and service-providers, not from abroad.

In the first ten months of 2007, prices of imports of goods excluding petroleum actually fell by 2.4% compared with the same period of 2006.

But prices of petroleum products did not rise by much. Largely because of a dip in prices earlier in the year, prices of petroleum products rose by only 0.5% year on year in the January-October period.

However, prices of services rose by 3.5% and prices of locally produced goods rose by 4.1%.

 

Fiona Mullen